<
https://www.theguardian.com/world/2026/jan/24/repatriate-the-gold-german-economists-advise-withdrawal-from-us-vaults>
"Germany is facing calls to withdraw its billions of euros’ worth of gold from
US vaults, spurred on by the shift in transatlantic relations and the
unpredictability of Donald Trump.
Germany holds the world’s second biggest national gold reserves after the US,
of which approximately €164bn (£122bn) worth – 1,236 tonnes – is stored in New
York.
Emanuel Mönch, a leading economist and former head of research at Germany’s
federal bank, the Bundesbank, called for the gold to be brought home, saying it
was too “risky” for it to be kept in the US under the current administration.
“Given the current geopolitical situation, it seems risky to store so much gold
in the US,” he told the financial newspaper
Handelsblatt. “In the interest of
greater strategic independence from the US, the Bundesbank would therefore be
well advised to consider repatriating the gold.”
Stefan Kornelius, the spokesperson for Friedrich Merz’s coalition government,
said recently that withdrawal of the gold reserves was not currently under
consideration.
But Mönch is only the latest in a string of economists and financial experts to
argue that such a move would be in keeping with the greater strategic
independence that Europe’s largest economy has been seeking from the US in
recent months.
Michael Jäger, the head of the European Taxpayers Association (TAE) as well as
the Association of German Taxpayers, has also said Berlin should make its move,
arguing that the US’s stated desire to seize Greenland should concentrate
minds.
“Trump is unpredictable and he does everything to generate revenue. That’s why
our gold is no longer safe in the Fed’s vaults,” Jäger told the
Rheinische
Post. “What happens if the Greenland provocation continues? … The risk is
increasing that the German Bundesbank will no longer be able to access its
gold. Therefore, it should repatriate its reserves.”
Jäger said he had written last year to the Bundesbank and the finance ministry,
urging them to “bring our gold home”.
Until recently the gold issue has been the preserve mainly of the far-right
Alternative für Deutschland (AfD), which has repeatedly urged the return of the
gold for patriotic reasons. But it has increasingly crept into the mainstream
discourse.
Katharina Beck, the finance spokesperson for the opposition Greens in the
Bundestag, has also spoken out in favour of relocating the gold bars, calling
them an “important anchor of stability and trust”, which “must not become pawns
in geopolitical disputes”."
Via Joerg Fliege.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
